Appointment of new CEO one step closer.
Delivering its annual financial results two months late, on Tuesday , Eskom revealed that it had doubled its loss of the previous year to almost R24 billion in the financial year ended 31 March 2023.
With five months of the current financial year left, a similar loss is expected for FY2024. Thereafter, however, the results are expected to improve considerably as the impact of the government debt relief will be starting to flow through.“We now need to deliver.”The decline in sales volumes was seen across all sectors, with rail down 22%, international sales down 14%, sales to households down by 13% and the agricultural sector by 11%, Eskom reported.
It said the average diesel price increased from around R18 per litre to R23 per litre over the reporting period.Despite the increased use of OCGTs, load shedding increased dramatically.Cassim said the announcement of government’s R254 billion debt relief programme has enabled Eskom to plan ahead with more certainty for maintenance that requires spares with long lead times. This is starting to show in improved performance of its generation plant.
Cassim, who has been interim CEO since the departure of André de Ruyter in February, said he is in negotiations with the board about what happens when his contract comes to an end at the end of December.
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